VA/ODVA

VA – Veteran’s Administration

Ever since President Roosevelt signed the Servicemen’s Readjustment Act (eventually know as the GI Bill) into law in 1944, veterans have had access to one of the most beneficial loan programs around.

A veteran who has served in the military and has received a certificate of eligibility will enjoy this great program to help them purchase a home with no down payment.

If you have your DD214 discharge papers please call me today so I can help you obtain your certificate of eligibility.

Some of the great benefits for a VA loan are:

• Zero down payment
• No monthly mortgage insurance
• Seller can pay all closing costs
• Gifts allowed
• Assumable (from other eligible vets)
• Low fixed interest rates
• Primary residence only
• No prepayment penalty

ODVA – Oregon Dept of Veterans Affairs

Veterans must establish their elibility for the ORVET  home loan program, and this eligibility is separate and distinct from the federal VA home loan.

To be eligible, a veteran must apply within 30 years of release from active duty with an honorable discharge.  (call for criteria)

Landmark Mortgage is an approved lender for this program.  There are great benefits to this loan:

• Low Down payment (100% may be available, according to market availability)
• Lower fixed rates (generally below market)
• Local loan servicing – your loan will stay with ODVA
• Seller may pay closing costs (restrictions apply)
• Manufactured Homes okay (restrictions apply)
• Low closing costs
• Primary residence only
• Loans are not limited to first time buyers
• No prepayment penalty

Please call me today to find out more and get an update on the market/rates/program guidelines.